Profile picture for AlmaOrtiz5

What is the value of my house?

  • March 09 2012 - Chicago
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Answers (12)

Profile picture for Kathy Dolch
The "value" of your home is its "Fair Market Value", it has nothing to do with how much you have in equity or how much you personally "Value" your home. It is what the market is willing to pay for your home in the current market conditions. I absolutely would suggest getting 3 comparative market analysis. And don't be so quick to go with the highest price quoted. Some will give you a market value too high, just to get the listing, and some will go far too low to list and sell it extremely quickly. So I suggest 3 and using your best judgement on what is presented to you.

Best of luck to you
  • March 29 2012
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In Real Estate we say the value of a house is what a seller is willing to sell it for and an able, willing and ready buyer is willing to buy the house for in an open market, meaning the seller does not have to sell. 

In order to know what to list your house for, here are the best options you have:

Contact a local Real Estate Broker to prepare a "Comparative Market Analysis" or CMA  for your house. The more knowledge the broker has about your house and the local market the more accurate the CMA is going to be.

Second option is to contact an appraiser, which will cost you anywhere from $300 - $500 to view the house and create a appraisal for you.

Or you can interview 2-3 Real Estate Brokers and that way you will get the exact picture of what the home is worth and get a chance to see what agent is more knowledgeable about the area and you feel comfortable to work with.

Good luck to you!
  • March 17 2012
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Speak with a local Realtor, ask them to complete a CMA for your property...you can also ask a Realtor to help you contact a property appraiser. Best Wishes!
  • March 10 2012
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Profile picture for wetdawgs
If you are looking for a Zestimate, click on "homes" in the top line of this page, enter your address and then click on "go".  If your home is in Zillow's database, you'll see a pop up box on a map with a Zestimate.   To get more details including the essential (for understanding) value range, click on the address in the pop up box.

Useful reading:

What is a Zestimate?
Data Coverage and Zestimate accuracy.
  • March 10 2012
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You definitely need a comparative market analysis (cma). If you don't trust the agent make sure to sit with them while they do the cma. Agents are Experts in the real estate field. Realtors also Don't get paid until the home sells, so there is no point to listing a home extensively higher than market value. Also, before financing occurs (unless the property is purchased with cash) the bank needs an appraisal. So even if an agent wants you to over pay for a home, it probably won't go through because the property won't appraise out.
  • March 10 2012
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ask a few local agents for a appraisal
  • March 10 2012
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Profile picture for JohnWilt
Get a CMA from a Realtor.  [self promotion deleted by Zillow moderator.  Please see our Good Neighbor Policy]
  • March 10 2012
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Profile picture for bjtregoning
I am a certified appraiser and broker in Illinois so I could give you am appraisal of you'd like.
  • March 09 2012
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Profile picture for pavitra45
Zillow's value is the least biased and correct as compared to the local realestate agents opinion. I am disappointed to find that even so called "Buyer's agent are the agents of the the seller, because that's where they get their commission from, higher the price they can sell the house more the commission
  • March 09 2012
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Profile picture for Matt Laricy
Have an agent give you a CMA. This is the most accurate way to find out the value, at no cost to you.
  • March 09 2012
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Contact a real estate agent. The agent will do a comparative market analysis for you, at no charge. Ask a friend for a referral to an agent they have worked with, or go to several open houses in your area and talk with several agents. They will be happy to assist you.
  • March 09 2012
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The easiest way is to ahve a few agents do a market analysis. We do not charge. You can also hire an appraiser. Don't use the values on zillow or trulia as they are frequently off base.
  • March 09 2012
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